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CNBC
Dec 11, 2012 7:00pm EST
thousands of union workers who came to protest. we have the late ev. good evening ron. this one got pretty rowdy didn't it? >> it did indeed. but because there were two arrests as we are told. two people tried to storm into the governor's office building across the street. police were happy with how folks hafed themselves today. probably 10,000 probably a smaller group than we saw in wisconsin last year when that issue blew up in neighboring wisconsin. today i spoke to the governor who said this is not about the charges coming from the leadership. he said this is about fairness and giving workers the right to choose whether they so choose or refrain from joining a june on. here is the governor talking about this issue. >> shouldn't the juunions be putting this out and should bt the workers make the decision? so that is why i view this as pro worker and not anti-union. they are upset about how this was pushed through. a lame duck section. democrats won ten extra seats and they felt that the culture in january would be different. they felt that they pushed this through because time was on th
CNBC
Dec 13, 2012 4:00pm EST
congresswoman jan schakowsky says there's no way a deal can be reached and if union workers don't get the health care benefits they want may walk out, this after unions are making moves across the board in business that have put certain firms out of business. we've got the debate coming up. what are you up to? oh, just diagramming this accident with my state farm pocket agent app. you can also get a quote and pay your premium with this thing. i thought state farm didn't have all those apps? where did you hear that? the internet. and you believed it? yeah. they can't put anything on the internet that isn't true. where did you hear that? [ both ] the internet. oh look. here comes my date. i met him on the internet. he's a french model. uh, bonjour. [ male announcer ] state farm. more mobile than ever. get to a better state. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 la
CNBC
Dec 4, 2012 7:00pm EST
and the poor. if growth suffers, so be it. i mentioned this guy before. one of the biggest unions larry. he said in western europe, they may have higher unemployment but they have less inequality. this is what the agenda is all about. in a practical way, suppose you have a successful person. he or she want to build a house. to do that you might hire 15, 20, 25 people. you got a whole army of people who would go to work. but if you get taxed, you might not guy that house. and you won't build. that is the kind of logic i'm not hearing. dow think they get that? >> they don't. i saw lincoln. remember during the debate in 2008 charlie gibson asked the then president obama why raise capital gains? he said it is about social justice and fairness. it doesn't matter that it doesn't work. what counts to these people is class and attacking this rich guy and this poor person who doesn't have much money. but the guy is on the margin of poverty. would love to go to work as a landscaper in this hypothetical home that i am describing. the guy on the margin, they would love to work like that. so,
CNBC
Dec 12, 2012 6:00am EST
is michigan's decision to become a right-to-work state. thousands of protesters and union members converged on the capitol in lansing yesterday to object to the measure that would bar unions from requiring workers to pay membership dues and to join the union. governor snyder signed the measure into law. >> shouldn't the unionsing putting out a proposition that workers want to join a union? and shouldn't workers feel free to make that choice to say their dollars are going to the union or not based on they feel they're getting results? so that's what this is really doing. so that's why i view this as pro-worker, not anti-union. >> the right-to-work clause regarded as a big blow to organized labor which has seen membership decline across the country. down to private sector 7%. >> you think overall, isn't it, 7%? more than 50% of those work for the government. >> 7% and more than that if you go up, like -- i think it's 16% if you include -- 13 if you include public, which is -- where it is. a contentious issue. they point to what happened in indiana. you know, more jobs, better -- bet
CNBC
Dec 6, 2012 7:00pm EST
in the u.s., could it be michigan which used to call itself the worker's paradise union state is now moving towards new anti-union right-to-work legislation and it looks like it's going to pass? but first up, budget talks resume between speaker john boehner and president obama today. with just 25 days to go, let's keep tabs on where we stand. reports of a conservative backlash against speaker boehner simply not true. he has the solid support of his leadership and the rank and file. but there is concern among some in the gop that they are at risk of becoming the party for rich people while president obama and democrats stake their claim on the middle class. and my tax rate flexibility with higher -- here's what the president said earlier today. >> i'm not going to sign any package that somehow prevent prevents the top rate from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is good for families like this one and that is good for the american economy. >> we look back republican senator rand paul from the state of kentucky. senator paul,
CNBC
Dec 18, 2012 7:00pm EST
seen he the inflation play by the president. we are the unions here. >> he has had a lot of them across the board. >> karen is right. they have had a lot of problems. see, brian, you hear what they are saying, what this is, is very high brow, distinguished rigamarol. and knowledgeable as well. don't get me wrong. we have the best of the best here. but i could see the feds easing, europe is easing. i can see maybe profits are going to come in better. maybe we had great housing coming in today. when they are doing this toe dance, how can the market make sense of that. >> we have had the debt crisis to train us how to deal with this? you start ignoring what the politicians had to say. and that is really now traders look at it. >> i'm here to tell you, one for one doesn't work. this is going to be his biggest challenge. the racing ising of the top chae is it. republicans aren't going to like that. and the grass roots aren't going to like that. and the only people that are going to like it are the liberals and the unions. >> but this is a big problem on spending and i think that is wh
CNBC
Dec 26, 2012 7:00pm EST
calling it the port's cliff. that's not the only outrage coming from the unions this week. we are going to discuss that next. free market capitalism, best path to prosperity. this is something they learned the hard day the american people are tired of the status quo. >> who are you going to vote for? >> definitely not this guy. >> you know your money got him elected last time. >> i didn't give that guy a dime. >> yeah, you did. our union gave him a big chunk of your dues money. hmm, it says here that cheerios helps lower cholesterol as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. breaking news now from the asian markets. jap
CNBC
Dec 12, 2012 4:00am EST
to agree on union supervisor. the timetable for implementing reforms are seen as main sticking points. germany's reluctance to hand over supervision of all of its banks to the ecb. france wants the central bank to have ultimate responsibility. that's not to mention demands from the u.k., sweden, and the netherlands which makes us have stuart richardson, still with us, whether the banking union thing's going to happen. if so, when? >> i think the move toward some sort of banking union is in progress here. it has been -- european, a work in progress. so it would appear that sweden was coming out of thing yesterday, the dave before -- day before, they're not backing the full union. germany wants limited banking union. >> does it matter -- how urgently do we need this in place? >> i think it's one of the key issues that needs to be resolved within the whole european project such as fiscal and political union. i think that the -- if they're going do it, they might as well do it right. as an investor, to me it's not that important for the next one or two months of equity performance,
CNBC
Dec 12, 2012 7:00pm EST
was far from peaceful in the state capital yesterday, and it's not over. why are these unions so angry about giving workers free choice? why is so much of the news media carrying the union's water by not reporting the story? we'll have some answers in just a little while. now, the market gyrated today over ben bernanke and the fed. at first they loved the new bond buying and money printing message. but then they gave up all their gains feeling unemployment may drop faster and the party would somehow be over. i'm not sure i understand this but we'll ask our experts mike, i gue i guess the idea is maybe the unemployment gets to 6.5% and the 0 interest rate goes up, why would that be bad? sometimes i don't understand the stock market at all. >> i don't think it's the employment figure. i think it's the inflation number that bernanke threw out there, larry. you also mentioned 2.5% inflation as being certainly that would look him put the brakes on. we look at treasuries relative to tips, it's a at 3.08%. i think the market is saying we might be where bernanke is talking about inflation and
CNBC
Dec 3, 2012 5:00pm EST
here to negotiations. we just talked to the head of the union and he says they are in this for the long haul. the unions say it is not about the money because the money is good. this is about job security. you are looking at a ship that has been sitting there since wednesday. it is filled not just with retail goods but a lot are parts, stuff that is needed now. >> it ripples through the supply chain. if the docks are not working and are not unloading cargo then the truckers are not working. it is going to get to the point where stores are going to be looking for their shipments and they are not getting them. after a week things are -- people are going to start noticing. >> now about a dozen ships have been diverted to other ports, most to mexico but other ships are waiting it out. if ships aren't offloaded exporters can't reload them with american goods. >> now the railroads are embargoing all of that cargo coming into these destinations so they are not taking the loads in chicago and st. louis and memphis. they are turning customers away at those destinations. >> these port admini
CNBC
Dec 17, 2012 7:00pm EST
kudlow report." in this half hour, a new investigation blasts a government agency for huge pro-union favoritism. congressman darrell issa will join us later on. and stocks are having a fine year. we'll take a look at how it may continue. >>> but first up, the questions and grieving continue in newtown, connecticut, tonight. police say it will be months before their investigation is finished. today, the first two victims from the massacre were laid to rest. nbc's jay gray joins us now from newtown, connecticut, with the latest. good evening, jay. >> reporter: good evening to you, larry. it seems like it just gets more difficult every day here in newtown. you talked about it. two of the young victims laid to rest today. 6-year-old first graders joined by their friends, classmates and families from this community, all struggling to get through this today. and when you stop and think they have to do this 18 more times for children and then the six adults, the teachers and the staff members who gave up their lives trying to protect the children inside that school, it's the beginning of wh
CNBC
Dec 11, 2012 3:00pm EST
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CNBC
Dec 4, 2012 4:00am EST
ministers will try to come to an agreement on the eu banking union, but deep revisions remain. >>> house republicans put forward their plan to cut the u.s. deficit, but the proposal is quickly dismissed by democrats and the white house. >>> and australia central bank cuts interest rates to the lowest level since the financial crisis in a bid to get ahead of sluggish commodities demand. we're on tuesday and off to a slightly, what, soft close yesterday for european stocks. right now we're pretty evenlies passed, advancers just about outpacing decliners on the stoxx 600, but not by much, 5:4 if that. so one hour into the trading session, this is where we stand. the ftse 100 just flat, a flat close yesterday. the dax was essentially fairly flat yesterday. up just ten points. the cac 40 yesterday doing a little bit better, up 0.2%. first pointing out ftse up 9 out of the last 11. we have seen yields continue to decline in spain. just 5.23%, but still capped. spain requesting financial assistance. we'll keep our eye on the uk as we head toward the bank of england meeting this week
CNBC
Dec 11, 2012 4:00pm EST
in michigan as union workers are protesting a bitterly distributed right-to-work bill. nbc's rob mott now with the details. >> reporter: good day to you from the michigan state capital where we saw a lot of protesters out here protesting two measures that the house passed today that would bar unions from forcing people to join those unions as a condition of employment. sometime tomorrow governor rick schneider is expected to sign them into law make michigan the 24th right-to-work state in the country, joining a lot of others where the gop has majority in the state legislatures. now, a lot of these workers today were dismayed at the timing of all of this. this is taking place during a lame duck session of the legislature when a new body is being sworn in here, and in a month's time it's going to have a few more democrats than we saw here today, so when i sat down with the governor this afternoon i asked him why not delay this just a little bit longer, let a new body come in and give workers and people around the state of michigan more opportunity to debate this issue. he says it w
CNBC
Dec 3, 2012 2:00pm EST
why fast food workers are working to unionize and maybe even strike across america. >>> and the scary story about the surge in spooks. how spies apparently are everywhere now, mandy. >> and you wouldn't even know. >>> let's load you up on some vital stats. firstly, december is historically the best performing month of the year but today the dow and s&p are down for the first time in four days. dow was up 61 points before the disappointing ism data at 10:00 a.m. this morning. it has never recovered. s&p is flirting with a three-week high even though it is slightly lower. nasdaq touched a one-month high earlier on. >>> never doubt the power of of the american consumer is what we always say here on "street signs." holiday shopping season is in full swing and that, my good people, has propelled the s&p retail next to a record high early again today, though as we speak it is slightly lower. let's get out to bob pisani. so much for december being a good month for stocks. >> well, we're just starting out but the big story i think is that no progress on the fiscal cliff. it is not bothering s
CNBC
Dec 10, 2012 1:00pm EST
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CNBC
Dec 2, 2012 7:30pm EST
, germany, including the rest of the european union seems to be going into a recession and germany entering it means 2013, first half, is going to be very difficult. chinese growth slowed significantly. i can't see where the u.s. growth will come from. exports will suffer. >> jim, we are seeing a lot of activity at the end of the year as investors and companies try to beat those higher tax rates. for example, some companies issuing special dividends because they assume tax rates will go up next year, which will they will, but you don't think it is good for toward the special dividends we are seeing. >> i'm okay if it is a dividend-paying company, like utility companies or high-yield staple stock or something. if they're going to pay a special head -- because that's why shareholders buy their company. i'm not okay with it in areas where i make an investment for companies for growth and they come up and pay me a special dividend this year. it makes me weary. if the best i can get is they will pay their cash to pay a dividend i question if they have any growth opportunities. >> what d
CNBC
Dec 11, 2012 6:00am EST
. >>> coming up, why as many as 10,000 union workers are expected to march on the michigan capital today. if you get a chance, read the lead editorial on the "wall street journal." this might bring us some things you haven't thought about. plus, which bank has the best customer -- a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. where you stand, turn to us. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about th
CNBC
Dec 19, 2012 12:00pm EST
specific proposals. i will be talking about them in my state of the union, and we will be working with interested members of congress to try to get something done. you know, the idea that we would say this is terrible, this is a tragedy, never again, and we don't have the sustained attention span to be able to get this done over the next several months doesn't make sense. i have more confidence in the american people than that. i have more confidence in the parents, the mothers and fathers that i've been meeting over the last several days all across the country from all political persuasions, including a lot of gun owners who say, you know what, this time we've got to do things differently. >> what about the nra? >> well, the nra is an organization that has members who are mothers and fathers. i would expect that they've been impacted by this as well. hopefully they'll do some self-reflection. here's what we know. any single gun law can't solve all these problems. we're going to have to look at mental health issues, we're going to have to look at schools. there are going to be a whole
CNBC
Dec 7, 2012 7:00pm EST
. >> those unions don't want it. we saw the clip when this story first came up that gal on the city council said detroit delivered for barack obama in the election, he should now bring home the bacon for detroit. the unions don't want it. the media don't want it. i'm not sure if dave bing who was a great basketball player, maybe not such a hot mayor. this thing has to go under a financial control board, doc. you know that. they're incapable of governing themselves in detroit. >> the problem is, in michigan we just had a referendum on a pretty strong emergency manager law we had in place. we go back to the old one now. and it's weaker. and the one thing that it won't be able to do is renegotiate those government worker contracts. which is what we need. >> then maybe governor snyder's got to be tougher. maybe he's got to come in with executive powers, doc. i don't know the state constitution. just saying it's very clear first of all detroit may be the largest bankruptcy in the country that. may be right on its way. second of all they are not going to be bailed out. obama is spending e
CNBC
Dec 13, 2012 2:00pm EST
about the banking union, the europeans are begrudgingly and distressing structural issues. >> give us one crazy wild card idea for 2013. >> oh, i like that, i like that. >> you thought spanish stocks are in a crazy enough idea? >> no, that loco. we were crazy. not loco. >> boy, i tell you, i think the place to be is in precious metals. silver. >> silver as opposed to gold? >> silver is the beta trade. >> lead. >> i have been long lead. >> more economic? terms of a trade. >> the last question, which is the most important, your company owns part of the dodgers. >> mm-hm. >> how much are you spending this year? >> well we don't own the dodgers. we put the deal together. >> but you're in there. how much will the dodgers spend this year? >> the dodgers will spend the amount of money they think is efficient to win this series. >> i knew you were going to dodge that question. >> ha, ha, ha. top that. >> thank you, scott, as always, good to see you. okay, moving along. >> on deck, is the fed building a new house of cards? why the plan may crush housing if you plan to sell off any time soon
CNBC
Dec 16, 2012 11:00pm EST
phthalates. the european union and at least 14 other countries have banned some phthalates in children's toys. in this country, california put into effect a total ban on the use of phthalates in toys intended for children under the age of 3. and on the national level, the environmental protection agency is working on new rules regarding phthalates that they hope to issue sometime in 2011 with the actual changes becoming law in 2012. among the possible modifications is a total ban on certain phthalates. in our next story, we'll discover why part of what makes you unique may actually belong to someone else, when 60 minutes on cnbc returns. to the best vacation spot on earth. (all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana seafood is delicious. we're having such a great year on the gulf, we've decided to put aside our rivalry. now is the
CNBC
Dec 28, 2012 7:00pm EST
container cliff. the union that represents dock workers and u.s. maritime lines came to an agreement today to extend their current contract for 30 days. this is a big relief now for the retail industry and consumers who were staring at real destruction again for the supply chain. here now is jonathan gold and he's vice president of supply chain and customs policy for the national retail federation. jonathan, good to see you. >> michelle, thanks for having me tonight. >> how dramatic, how bad would it have been if come next year, in other words, in just a few days we had a strike on all of the ports on the east coast of america? >> it would have been fairly significant if we would had a shutdown on all of the ports from the east to texas and it would affect importing, exporting, manufacturers who rely on inputs to production, farmers who are trying to get their products to market overseas, trucking companies who sold jobs to pick up containers at the ports this would have been felt fairly wide throughout the u.s. economy. >> can you put a number on it? can we look at previous shutdown
CNBC
Dec 21, 2012 4:00am EST
anning union, fiscal union, political union, but the absence of the market pressure is causing all of those things to be delayed and watered down. that's really what's going on. we have solved nothing. we have kicked the can. that's worth a lot, actually. that's why the markets are stabilizing. so it's a better situation than it was, but it's not solved, right? nothing has been resolved yet. >> that pretty much sums up the year. i have a feeling we'll sum up 2013, as well. straight ahead, we are going to get third quarter gdp figures out from the uk. we'll bring you those figures as soon as we're back. don't go anywhere. i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express ber 22nd for christmas delivery. >>> welcome back to "worldwide exchange." a setback for negotiations between congress and the white house as house speaker john boehner's plan b fails with just ten days until the fiscal cliff deadline. markets are trading lower
CNBC
Dec 13, 2012 4:00am EST
meantime, we can talk about how this banking union might work out in the long run. but my guess is it will take a long time yet before they reach an agreement on banking union because this agreement, this minimal agreement but important agreement took many hard sessions to even wrestle out a compromise like this. so i think banking union is fine. >> silvia wadhwa, thank you very much for following that for us into the wee hours of the morning. joining us for more on what this means for the market is paris annan from fidelities investment. we wake up to this news. it's significant. as you look into 2013 and you start to look at why european equities are going in general, how does thi change if at all your views? >> well, when we think about the outlook for on 2013, you could almost separate it into two outlooks. you have the outlook for the macro economy and the politics in the euro crisis and the outlook for making money in the european shares. with things likes the eu banking supervision and even the change in italian politics, what we're seeing more generally is that these events ar
CNBC
Dec 14, 2012 9:00am EST
, you know, a long wait for the chocolate bar on union square and our kiosk at bryant park is doing very, very well. we're very happy with the holidays so far. >> anybody who lives in manhattan knows where you are and how long the lines can be. are people showing more of a willingness to splurge? are you sensing caution there? what is the mood? >> the mood is good. it's a holiday, festive mood. are we seeing any caution? i don't think we're seeing it in our brand but i think the economy speaks for itself and i think there is a cautionary kind of waiting to see how government deals with the economics that are on the horizon. >> speaking of which we were discussing some cocoa futures, dairy futures during the break. is this related to the fiscal cliff? what is the issue facing the industry? >> well, on the milk prices you have a producer's price of $6 a gallon versus a supported price of under $3 a gallon. if they don't continue on the fiscal cliff to solve these and bring the legislations from, you know, the 2008 legislation and the legislation from previous years, falls back to 1940
CNBC
Dec 5, 2012 4:00am EST
longshoremen who refuse to cross picket lines will be back on the job later. shippers and the union agreed to federal mediation on tuesday. the clerks have been working without a contract for two years. the strike shut down ten of the port's 14 terminals, backing up several ships waiting to off load their cargo. >>> still to come, egyptian president morsi has returned to work just a short time ago after leaving the palace during protests last night. we'll have the very latest from cairo when we come back. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. >>> a recap of the headlines. the fiscal fight rages on in washington as republicans try to fend off an internal divide. shanghai stocks jump after china's government plengs to support pro-growth economic reforms. chancellor osborne preparing to deliver his autumn statemen
CNBC
Dec 6, 2012 2:00pm EST
u.s. is important to getting the product right in the u.s. >> charles, unions certainly took their lumps in the blame for why jobs have -- inability to negotiate strikes in this factory area in kentucky, huge number of strikes in the '70s. but let's give the unions some credit. how have they helped bring jobs back? >> well, the union at the louisville, kentucky facility is called -- it's actually called appliance park. it's a legendary factory in the u.s., factory so big it has its own zip code. and all the hourly jobs there remain unionized, and, look, the union has negotiated a dramatically lower entry level wage. it's $13.50 an hour. that's $8 lower than what the previous entry level wage was. the wages do rise fairly steadily, which is nice. because $13.50 an hour is hard to make a living on. what the president of the union in louisville said to me was, we'd rather have entry level jobs at $13.50 an hour and grow this business back with ge in the u.s. than have zero jobs at $21 an hour. >> ge used to be majority, now minority owner of nbc and cnbc as well. but your article was
CNBC
Dec 13, 2012 6:00am EST
. the ceo scheduled to address the pilots union with the view of the airline's future following its bankruptcy restructuring. the unions favor a merger with us airways that would turn management over to that airline's executives. we talked a lot about that. the u.s. home reowe potions rose to a nine-month high in november. that's according to a new figure from realty track even as the number of homes entering foreclosure process are at a six-year low. >> it did not escape all of our viewers that we were going to dance on break and then we came back with a bunch of deliverance music. that was for -- the dueling guest hosts. we already headed for dueling guest hosts. it was preproduced. and then we happened to serendipitously say we were going to do the tango on break. >> i was pushing for the fox trot. >> why can't apart? anyway "the wall street journal" says that barclays plans to eliminate as many as 2,000 jobs in its investment bank as part of the restructuring plan. the cuts are exexpected to be announced last year. barclays would be the latest to make such a deal. and we're goin
CNBC
Dec 28, 2012 6:00am EST
? the biggest issue is on container royalties which are paid to union workers. they get part of it based on the weight of the cargo. a strike could hurt exports, factories, also it would affect retailers who are awaiting shipments of spring merchandise. now it's important. we're going to go to today's national weather forecast. last year, reynolds, you would come on, you would try and make it interesting. but it wasn't. this year, it's every day we need to, you know, dvr you because there's a lot going on. >> oh, that's certainly the case. it's been really like an assembly line. one storm system after another rolling across the continent that has been affecting millions of americans. what we're seeing is that last storm that we call euclid now leaving the u.s. and bringing residual snow showers behind the east. right behind it now, we have at another system making its way towards the coast this weekend. for much of the eastern seaboard, we expect fairly tranquil positions. much of south texas could see rainfall. dallas, texas, rain early. and improving through the rest of the day.
CNBC
Dec 3, 2012 4:00pm EST
celebrate the union of tim and laura. it's amazing how appreciative people are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the rings please? ah, helzberg diamonds. nice choice, mate. ...and now in the presence of these guests we join this loving couple. oh dear... geico. 15 minutes could save you 15% or more on car insurance. a passionate belief, and the foundation on which merrill lynch has been built. today, our financial advisors lead from a new position of strength. together with bank of america, they have access to more resources than ever before. a steadfast commitment to help you achieve your financial goals in life. that's the power of the right advisor. that's merrill lynch. ♪ welcome to the world leader in derivatives. welcome to superderivatives. >>> welcome back. want to go back to washington. over to you, john. >> just wanted to correct something i said on air and in a graphic. the republican offer the speaker made today does not include the premium support or voucher plan fo
CNBC
Dec 26, 2012 1:00pm EST
, forget the fiscal cliff. we are staring down the barrel of a container cliff as unions are threatening to shut down ports along the eastern seaboard. also, we peer in netflix's christmas eve outage. what does it mean for the company, for the stock? and what did it mean for movie theaters that evening? also, herbalife is getting legal muscle to combat bill ackman's short posture against the company. the question is whether or not it's going to come to reinvestors. i'm down here at the stock exchange. back to you. >> lovely to see you, as ever. thank you very much. >>> gold trading close. we showed you a few moments ago t goldman sachs commodity index barely hanging on to gains this year despite a lot of losing bets, investors are still pumping billions into the sector. jackie deangelis is looking at the winners and losers. >> good afternoon. what we have seen a bit of a correction in commodities. if the index ends the year a little lower, it will be the first decline we've seen since 2008. but you're right, the commodities saw a lot of interest this year. money invested in commodity fun
CNBC
Dec 11, 2012 1:00pm EST
unions from compelling members to be members and pay dues. security was tight. police in rite gear and carrying spray canisters on their belts. >>> what happens to the u.s. economy if we do go over the cliff? >>> the government cashes out of aig. what's next for the company and for the ceo? but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. so i never missed a beat. that's health in numbers. unitedhealthcare. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd#: 1-800-345-2550 lower than spdr tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and even lower than vanguard. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that means with schwab, tdd#: 1-800-345-2550 your portfolio has tdd#: 1-800-345-2550 a bet
CNBC
Dec 13, 2012 7:00pm EST
to the european union regarding hezbollah, the terrorist group, and he refused to do so. >> i want to go back to the sitting on the deutsche bank americas advisory board. there's the problem, larry. there's something new that will come up. these matters that you point to are consistent and known. what's unknown right now is the justice department's interest in deutsche bank, america's advisory board, and money laundering with iran. that's fresh, and that could be a problem in the weeks ahead. that's why they're saying uncertain at this time. >> and hagel was on that advisory board, john? not just part of the bank, but on that advisory board? >> participating in that advisory board, and that's fresh information. this is all moving very fast, because the senate staffing and the vetting process at the white house are now turning to chuck hagel. that's significant. but it is not -- it also determines that there are questions to be answered. i talked to washington within this last hour, larry, and again, uncertain is the word that came up several times. >> one last quickie, john. john k
CNBC
Dec 21, 2012 6:00am EST
, though. this is not it. >> we join the european union, we adopt universal health care with single payer, we do climate change. we do cradle to grave -- >> the euro is nice and strong. 1.31. >> it's a global economy anyway. >> right. >> he loves -- >> i don't do political chess for a living. i do the math of the political chess. >> i'm doing the chess. >> you have to think about this. >> check mate. what's check mate? before that. before that. you got to go. but i want to know how i asked roger whether he had talked to people around the white house that do think eventually it could hurt the president. he thought it would. i don't think they think it's going to hurt the president. >> i'm pretty sure the people i talked to do not. >> barry what happens with the market reaction? downgrade from the debt agencies? last time around it didn't seem to have a huge market impact. >> the back end of the treasury curve steepened california maltically. there's a history of that. it happened during the government shutdown in early '96, so there will be disruption in the markets for sure. the dol
CNBC
Dec 5, 2012 7:00pm EST
. >> is this the usual stuff that the government unions pay themselves too much, their pensions are too big, their health benefits are too big and therefore they're bankrupting the city? is that the principal cause here? >> that's a major part of it. this is the culture that's been going on for 50, 60 years in detroit. you've got the big unions there that are just taking their cut of it, keep wrachratcheting it more, but you also have a culture of ineptitude in detroit. right now you have kwame kilpatrick on trial for corruption. you have monica conyers, wife of john conyers, the congressman, who is ready to get out of jail in a couple weeks for her corruption charges. this is what detroit is about. ineptitude, corruption, and big union thuggery. maybe that's redundant. >> where is mayor dave bing on this? i thought he was going to be here. i know governor snyder has tried to essentially take over detroit, but i don't think he succeeded. so where is bing on this? >> dave bing has come out and said yeah, people have an entitlement mentality. the workers in the city of detroit, he knows.
CNBC
Dec 28, 2012 4:00am EST
point is over container royalties which are paid to union workers based on cargo weight. a strike could hurt u.s. exports, factories and affect retailers waiting for shipments of spring merchandise. >> noise of flights have been canceled in the u.s. northeast as a powerful winter storm has brought heavy snow and winds across the region. over a dozen people have reportedly been killed as a result of the storm. joining us now for more from the weather channel is reynolds wolf. he is a meteorologist. reynolds, what can you tell us about this storm? and just how much more people might need to brace for? >> well, i've got some very good news for you, some bad news. the good news that we have for su that storm system is dying out. that's the good news. so there's very little left, maybe some residual snow showers in parts of the northeast. the bad news, we see a secondary storm forming behind that one to produce widespread delays. we could expect delays in places like memphis, new orleans and nashville. in new york, not so much in terms of sky conditions that will trouble you, but the w
CNBC
Dec 7, 2012 6:00am EST
has the city of chicago be doing? >> rahm emanuel took on the teacher's union. >> he got rolled. and they've been selling assets. it's been asset sales, parking contract, not dealing with the underlying spending problems. so house republicans are determined to deal with this debt question. so when boehner comes out and gives his talk right after the election -- >> but honestly, the administration has criticized the republicans because there are no specifics in the spending cuts. >> come on, look. the erskine bowles language -- you know how this works. house republicans are will -- >> give me one. >> i won't play that game and here's why. house republicans -- house republicans are willing to sit . house republicans are willing to sit down. they're not any more anxious to deal with the cuts and pass the cuts than anybody else is but we demonstrated through the ryan budget, we did it once, we did it twice -- >> i'll give you that point. i wish everybody would stop talking about this in public and get behind closed doors and actually make this happen. i can't believe the amount of tough
CNBC
Dec 24, 2012 12:00pm EST
of the union. just to talk about an enabler of the economy. when a plane arrives in rochester, minnesota, new york, savannah, georgia wlab that does is huge. let alone seattle and los angeles. so let's optimize investment to enable transportation and infrastructure. there are companies around the world. this is a national policy and can you see what is happening. >> we need an oil policy and we don't have an energy policy either. >> that's true. >> energy and cost of labor, have those two assisted up for jetblue. >> it is right about 70%. and we have the youngest fleet and we are a young airline relative to labor cost. right about 70%. >> that's a big number. >> it is a big number. >> you've been expanding. i want to ask you about expanding routes. you are adding seattle to anchorage. international, lighroutes to colombia. why are these international routes so appealing? >> you talk about colombia and cartagena from kennedy. latin-america for jetblue has been really, really positive. people talk about china, middle east. i tell you, latin-america positive for us. we will conti
CNBC
Dec 12, 2012 5:00pm EST
. danny meyer, ceo of union square hospitality group, which includes shake shack and blue smoke. danny, great to see you. >> thanks, michelle. >> melissa. >> this is going to be a great interview. i can tell right now. >> that's okay. just get me a table next time. all right, so, let's talk about the next few weeks and what you've seen, most recently when it concerns a consumer and worries about the fiscal cliff. have you seen any change in activity or behavior? >> not really. as a matter of fact, the only place that we've seen it has been actual lly busier times at places like blue smoke and shake shack that have tvs because they want to watch you guys talking about it. i think consumers are taking a we're going to wait and see approach. they think it's something to talk about and really think it's going to get solved. and they think no way it's going to stop them from doing the end of the year holiday entertaining in restaurants. >> is it causing you to change your behavior in terms of how your financing a restaurant or how many you're going to open next year? >> absolutely no
CNBC
Dec 10, 2012 7:00pm EST
really talking about giving you the right to work for less money. >> obviously a pro union crowd there. a lot of folks from the uaw there in detroit. but the president continuing the campaign-style effort. seems to be paying political dividends at least for now by rallying public opinion on his side on the fiscal cliff. the republicans, now that the election is over don't have a single figure who can go out to do the same thing. it gives the advantage to the president in terms of the bully pulpit. we'll see how negotiations turn out in the end. >> eamon, thank you very much. as always. despite president obama's objections and protests michigan will become the 24th right to work state. that may happen tomorrow. our next guest has a sample. please stop lecturing others and get your own job done. joining us is chase bolger, michigan speaker of the house. what is president obama doing? he did this in wisconsin and got whooped. is he going to get whooped here? >> good evening, larry. he did come, weighed in and he disagrees with us. that's okay. we disagree with him. >> what's wrong with a
CNBC
Dec 3, 2012 6:00am EST
to cross picket lines set up by union clishgal workers. we're going to take one more break. this is the way we do these things. we have to do a certain amount for every 60 minutes. if we have a long 15-minute period, they know we go back to back on something. if you have any questions, e-mail us squawk@cnbc.com. becky will see it. i won't. follow us on twitter. @cnbc.com is our handle. up next, dominos, the company's ceo joins us to talk jobs, the cliff and a fiscal break. >>> welcome back to "squawk box," everyone. in our headlines this morning, the nation's automakers are expected to report an 11.3% increase in sales for november compared to a year ago. some of that is attribute knowledge to superstorm sandy. an estimated quarter million vex were destroyed. those numbers will be out this morning. it would only say that it is speaking to, quote, interested parties. but delta air lines is involved in those sdgzs. virgin is the second largest airline at heath row. >>> and lenny dykstra will be sentenced today. he was found to have hidden and stole sports memorabilia other items that
CNBC
Dec 19, 2012 9:00am EST
next week, every state in the union now has gas below $4 a gallon on average. it's been a long time since we've seen that. back to you. >> that is something else. thank you so much, bertha. bertha coombs covering the complex for us. "time" magazine unveiling person of the year, and the winner is -- the newly reelected barack obama. we'll check in on some of the contenders for the title, how they reach their decision over at the book. the international editor for "time" magazine joins us from new york. good morning to you. >> good morning. >> you're the international editor because they just named morsi as a contender. why the president? >> well, we elected the president because we thought ultimately this election was even more consequential than 2008. the 2008 election was really about hope and change and the historical place of barack obama. this is actually a verification, and an ensconcement. he won this election very conclusively. demographics not only in his favor, but he successfully exploited them. he got people to vote who usually do not vote, and he's now down it two electi
CNBC
Dec 18, 2012 9:00am EST
the union is still going to be active. so what can listeners and viewers do to send a message to stand firm on this issue, sir? >> yep. so you've got exactly the right message. the positive outcome of this treaty is we've gotten very explicit about the importance of internet freedom from a commercial standpoint, from a free speech standpoint. we've been very clear. there are a lot of other nations with us on that. this is going to be a discussion that will have to continue. this treaty does not go into effect until 2015. all of the nations that do not sign like us are not bound by this treaty. we go back to 1988. the ones that do sign this do not have an enforcement mechanism. so the bigger issue here is that we have to keep advancing this dialogue about the risks to the internet. we need to keep advancing the importance of broadband deployment and through that process i'm confident that people will see the benefit of the internet and economies and citizens will see the benefit. >> we're going to have to leave it there. we are a bit short on time. i thank you for what you are try
CNBC
Dec 12, 2012 1:00pm EST
in a right to work bill, requiring workers to pay union dues. is this anti-union or pro business? how do you call it? >> i think it is an anti-union move. it will help businesses as well. a lot of people think it is a libertarian thing. it gets in the way of people's freedom of contract for employers to be able to say, i will only employ union workers. i can don't think these laws are a good idea. >> i'm very torn about this, john. i think requiring someone to pay fees to a union as condition of employment, that strikes me as wrong. on the other hand, my grandmother is with the internation international garment workers for three years. i think she would say, allowing people to piggyback on the gains made because you want to get out, i would v a problem with that too. i'm torn about this and i don't mean to sound wishy washi. >> i'm with you, bob. two, two, two mints in one. i think it is both anti-union and pro business. they are saying we are losing competitively to states like texas, north caroline why and virginia and others in the fights for workers. think i we all saw this c
CNBC
Dec 26, 2012 2:00pm EST
. businesses up and down the eastern seaboard are bracing for a massive port showdown as unions threaten to strike and possibly shut down most imports and exports out of this country. let's add in cnbc contributor jimmy peeb. we focus so much on the fiscal cliff. if we shut down 14 or 15 of the biggest ports in america, that could do much more harm than any fiscal escarpment. >> it could do much more harm more quickly. the fiscal cliff on january 1st, the economy's not going to collapse. but the shutdown of these ports, you had $200 billion or $300 billion a year coming into this country through these ports. what i think interesting, the last time we saw an east coast longshoreman strike, port shutdown, was in 1977. a decade which i remember where nothing went right. nothing worked. right now, to me, not much is working so it only stands to reason that we get a strike like this at the worst possible time. >> is it even justified? peter, let me quote something from the "new york post" saying the strike is not about jobs, not about safety. essentially, what it is about is protecting big labor
CNBC
Dec 14, 2012 4:00am EST
leaders gather for their latest summit and we'll look at what else, apart from the banking union, will be on the agenda. plus we speak to the editor of the "financial times." and find out why the paper picked draghi as their person of the year. who is going to be the next timothy geithner? president obama gets ready to unveil his next pick for treasury secretary. >>> and voters head to the polls for their first vote in egypt's constitutional referendum. we'll take a look at the possible outcomes a little later in the program. >>> welcome back to the program. greek lawmakers have submitted a long awaited bill to curb taxation. this law is further towards complying to satisfy financial critters in receipt of aid. the move comes after eu leaders reached the deal to agree on ecb banking supervision rules for the block and bailout agreements for athens. leaders are set to spar over who pays for what. sill veer ya has been braving brussels for us all week following the latest. silvia, it sounds like the old divide between north and south is still at play here. sylvia, are you with us?
CNBC
Dec 12, 2012 9:00am EST
that. how the unions get in there. >> andreson was a lot more clear. >> he's great. >> great job by andrew. make sure to join us tomorrow. that's it for us. "squawk on the street" is next. >>> all right. with that, good morning. welcome to "squawk on the street." live at the nyse. we'll continue to monitor what jamie dimon does at the deal mark conference. we await the federal reserve statement, and news conference in just a few hours. as for europe, some green arrows, despite a miss in the eurozone in production this morning. >> the road map starts this morning with, of course, the fed. expectations for revamped bond buying program. what will the economic forecast say about next year and what to make of the "wall street journal" story that says academics are driving monetary policy at secret dinners in switzer land. >> more counteroffers in the debt negotiations. it looks like corporate taxes are part of the deductions. >> costco beats by 2 cents, better sales and better sales and membership fees. >> some more reports about apple tv today. the journal said it's designing a high --
CNBC
Dec 26, 2012 5:00am EST
gone on a 24-hour strike on boxing day. the first day of post-christmas retail sales. the union has a long-running dispute with tube management over bank holiday pay. >>> and here in the u.s., support strike could be brewing. federal mediators have called for a meeting of east and gulf coast dock workers and shippers as they try to avoid possible strike next week. talks broke down december 18. and the union's contract extension expires monday. the union represent more than 14,000 workers at more than a dozen ports from boston to houston. the key sticking point -- container royalties or payments to union workers based on the weight of cargo. >>> now back to the markets. before the break, we told you about the best performing emerging markets this year. but -- emerging markets this year. the third best performing market this year is estonia, up 36.51%. and at number two is pakistan with the karachi stock exchange 100, up 49% for 2012. and the best performing market so far this year is turkey's ise national 100 index. up 52.26% this year. now our next guest says a play in the emerging ma
CNBC
Dec 5, 2012 11:00pm EST
it my new favorite railroad. even over and above union pacific, which has always been my favorite. don't get mad at me, union pacific. i used a great union pacific calendar, but it's december. that one's off the wall. anyway -- kansas city southern also saw some exposure to the bakken shale. they found so much oil, they need to ship it via train in order to get a decent price because there's not enough pipe yet, not enough pipe laid from north dakota to the rest of the country. and the company owns half of the panama canal railway which provides ocean to ocean service along the canal. they have fantastic management. ceo david starling was named railroader of the year for 2012. this stock is taking you for a fabulous ride. i got the idea from brian ashenberg who writes the newsletter for the street.com. he gave us a lot at a really low price, a lot of good ideas. brian first got buying kansas city southern a while ago. the stock's given his news letter 360% return, but the stock's only up 14% in the last 12 months. i think many of the earnings estimates could be way too low. the co
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